My biggest realization recently is a simple truth: don’t mistake “seeing the right direction” for “being able to freely pile on positions.” If you can’t hold spot, it’s usually because your position size was too big from the start—once the price moves up or down a little, you start imagining narratives. Futures liquidation is even more direct: leverage wipes out the room for you to make mistakes entirely.

My approach now is pretty basic: first decide “the maximum loss I can take,” then place the order—positions you can sleep with are the real positions. Enter and exit in batches; I’d rather make a little less profit than decide life or death based on a single candlestick. Those on-chain data tools and tagging systems have also been criticized lately for lagging or being easy to mislead—put simply, they’re at most for reference, not a remote control. In any case, I’ll first keep my positions in check, and then gradually study the mechanisms behind everything.